The Boston Celtics are working with multiple firms to assist with the sale of the NBA franchise, Sportico reported Thursday.
Per the report, JPMorgan Chase and BDT & MSD will work together on what, once the franchise is sold, will be a multi-billion-dollar transaction at the highest price ever paid for an NBA team. A third firm, the Jordan Park Trust Company, oversaw the selection of the advisory companies and will stay involved in the sale process.
Last October, Forbes valued the Celtics at $4.7 billion; Sportico puts the value at $5.12 billion. Both list it as fourth in the NBA in terms of worth.
The Phoenix Suns, sold in 2022 at a valuation of $4 billion — the highest price ever for control of an NBA team.
Celtics ownership announced the intention to sell the team last month, soon after the team won its 18th NBA championship.
Owner Wyc Grousbeck has said he plans to sell the team in two stages, first by offloading the 51 percent majority share controlled by his family. The second stage would feature the sale of the other 49 percent held by minority partners, though one minority owner, Steve Pagliuca, has announced that he is interested in bidding for a majority stake.
Grousbeck, a Massachusetts native, plans to serve as the Celtics’ governor until 2028.
Grousbeck and his ownership group purchased the team in 2002 for $360 million.
–Field Level Media